Complete the schedule of accounts receivable

Assignment Help Financial Accounting

Reference no: EM13937720

QUESTION:

- The file Shanes Special Shoes Transactions and Balance Day Adjustments contains information from the various source documents that relate to the transactions that have occurred in the month of July 2015.

- The file MAA261 Part 1 Shane's Special Shoes Pro Forma Journals and Ledgers contains the journals, ledgers, schedules, trial balance, bank reconciliation and final reports. Note that this file is supplied in "word" format so that if you need to adjust the columns or add ledgers 1. Using the information provided in the Shane's Special Shoes Transactions and Balance Day Adjustments, record all transactions for the month of July in the appropriate:

a. Journals (general journal or special journals)

b. Subsidiary ledgers and in the records of MAA261 Part 1 Shane's Special Shoes Pro Forma

- Please acquire a thorough understanding about the recording process before you enter transactions (please refer the relevant lecture notes and the text book for further information).

2. At the end of the month, enter the totals in various columns of the special journals and post the totals to the relevant accounts in the General ledger. Post all balance day adjustments to General Journal

3. Prepare the trial balance. If the trial balance does not balance do not

4. Using the respective subsidiary ledgers, complete the Schedule of Accounts Receivable, Schedule of Inventory and Schedule of Accounts Payable. Ensure the totals agree with the balance in the control accounts.

5. Prepare an Income Statement for the month ended 31st July 2015, Bank Reconciliation Statement as at 31st July 2015, Statement of Changes in Equity for the month ended 31st July 2015, and a Statement of Financial Position as at 31st July 2015.

Attachment:- Assignment.rar

Reference no: EM13937720

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